S T A T E O F N E W Y O R K
________________________________________________________________________
2979
2013-2014 Regular Sessions
I N A S S E M B L Y
January 22, 2013
___________
Introduced by M. of A. ORTIZ -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to providing a tax credit to
small businesses that purchase and install a security system
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 210 of the tax law is amended by adding a new
subdivision 24-a to read as follows:
24-A. CREDIT FOR SMALL BUSINESS PURCHASE OF SECURITY SYSTEM. (A) A
TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER
PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR THE PURCHASE,
OTHER THAN FOR RESALE, OF A SECURITY SYSTEM.
(B) FOR THE PURPOSES OF THIS SUBDIVISION, THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS:
(1) "SECURITY SYSTEM" IS DEFINED AS A SYSTEM INSTALLED TO DETECT
INTRUSION, BREAK-IN, MOVEMENT, SOUND OR FIRE.
(2) "SMALL BUSINESS" MEANS A NEW YORK TAXPAYER AS DEFINED IN PARAGRAPH
(F) OF SUBDIVISION ONE OF THIS SECTION WHO HAS FEWER THAN FIFTY EMPLOY-
EES IN THE INITIAL TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED.
(C) THE AMOUNT OF CREDIT SHALL BE FIFTY PERCENT OF THE COST TO THE
TAXPAYER FOR THE PURCHASE AND INSTALLATION OF SUCH SECURITY SYSTEM
DURING THE TAXABLE YEAR OF PURCHASE, SUCH CREDIT NOT TO EXCEED SEVEN
HUNDRED FIFTY DOLLARS WITH RESPECT TO EACH PURCHASE AND INSTALLATION.
THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT
REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS
PRESCRIBED IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS SECTION.
S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new clause (xxxv) to read as
follows:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07043-01-3
A. 2979 2
(XXXV) CREDIT FOR SMALL BUSINESS PURCHASE AND INSTALLATION
PURCHASE AND INSTALLATION COSTS OF A SECURITY SYSTEM
OF A SECURITY SYSTEM UNDER SUBDIVISION
UNDER SUBSECTION (S-1) TWENTY-FOUR-A OF SECTION
TWO HUNDRED TEN OR
SUBSECTION (J-1) OF
SECTION FOURTEEN HUNDRED
FIFTY-SIX
S 3. Section 606 of the tax law is amended by adding a new subsection
(s-1) to read as follows:
(S-1) CREDIT FOR SMALL BUSINESS PURCHASE AND INSTALLATION OF A SECURI-
TY SYSTEM. A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED,
AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLA-
TION OF A SECURITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWEN-
TY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER. THE AMOUNT OF
CREDIT SHALL BE FIFTY PERCENT OF THE COST TO THE TAXPAYER OF THE
PURCHASE AND INSTALLATION OF THE SECURITY SYSTEM DURING THE TAXABLE
YEAR, SUCH CREDIT NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS WITH RESPECT
TO EACH SYSTEM PURCHASED AND INSTALLED.
S 4. Section 1456 of the tax law is amended by adding a new subsection
(j-1) to read as follows:
(J-1) CREDIT FOR SMALL BUSINESS PURCHASE AND INSTALLATION OF A SECURI-
TY SYSTEM. A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED,
AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLA-
TION OF A SECURITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWEN-
TY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER. THE AMOUNT OF THE
CREDIT SHALL BE FIFTY PERCENT OF THE COST TO THE TAXPAYER OF THE
PURCHASE AND INSTALLATION OF SUCH SECURITY SYSTEM DURING THE TAXABLE
YEAR, SUCH CREDIT NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS WITH
RESPECT TO EACH SYSTEM PURCHASED AND INSTALLED. THE CREDIT ALLOWED UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR
SUCH YEAR TO LESS THAN THE MINIMUM TAX FIXED BY SUBSECTION (B) OF
SECTION FOURTEEN HUNDRED FIFTY-FIVE OF THIS ARTICLE.
S 5. Section 1511 of the tax law is amended by adding a new subdivi-
sion (l-1) to read as follows:
(L-1) CREDIT FOR SMALL BUSINESS PURCHASE AND INSTALLATION OF SECURITY
SYSTEM. A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED,
AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLA-
TION OF A SECURITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWEN-
TY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER. THE AMOUNT OF THE
CREDIT SHALL BE FIFTY PERCENT OF THE COST TO THE TAXPAYER OF THE
PURCHASE AND INSTALLATION OF SUCH SYSTEM DURING THE TAXABLE YEAR, SUCH
CREDIT NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS WITH RESPECT TO EACH
SYSTEM PURCHASED AND INSTALLED. THE CREDIT ALLOWED UNDER THIS SUBDIVI-
SION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO
LESS THAN THE MINIMUM FIXED BY PARAGRAPH FOUR OF SUBDIVISION (A) OF
SECTION FIFTEEN HUNDRED TWO OF THIS ARTICLE.
S 6. This act shall take effect immediately and shall apply to taxable
years commencing on or after January 1, 2015.